https://www.taxtmi.com/caselaws?id=106607 Under Section 4 of the Central Excise Act, 1944, assessable value is the price at which goods are actually sold in wholesale trade. A reduced sale price cannot be rejected merely because the manufacturer's commercial reasons appear unsatisfactory. In the absence of evidence that the reduced price was not genuine, that the goods were not sold at that price, or that additional consideration was received, the declared price must be accepted. Mere suspicion based on a fall in sales is insufficient to justify assessment on an earlier price. The reduced price was therefore treated as the assessable value and the duty demand failed. en-us Thu, 16 May 2002 00:00:00 +0530 Wed, 14 Mar 2012 18:36:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106607 Under Section 4 of the Central Excise Act, 1944, assessable value is the price at which goods are actually sold in wholesale trade. A reduced sale price cannot be rejected merely because the manufacturer's commercial reasons appear unsatisfactory. In the absence of evidence that the reduced price was not genuine, that the goods were not sold at that price, or that additional consideration was received, the declared price must be accepted. Mere suspicion based on a fall in sales is insufficient to justify assessment on an earlier price. The reduced price was therefore treated as the assessable value and the duty demand failed. Case-Laws Central Excise Thu, 16 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106607